Gold price rises again

The demand for precious metals continues to break records as gold has again hit a new high, and this time it’s brought silver along for the ride.

The London Bullion Market announced that the price of gold had reached a new high of $1,300.07 per ounce at the end of last week, and silver also set itself a new record, reaching prices of $21.44 per ounce, its highest price since 1980.

With investors thought to be rushing to buy the metal, gold is always traditionally a popular investment during times of economic uncertainty often being described as the ultimate safe haven investment, experts predict that the price will only continue to rise- “We now expect gold prices to stay high for several more years,” said Capital Economics.

Financial analyst Filip Petersson added: “Wealth preservation are the keywords. As long as we do not see a reduction in the uncertainty regarding the long-term economic outlook, gold prices will remain well-supported as the currency of choice for risk-averse investors. The strategic view remains bullish and we expect prices above $1,350 per ounce before the end of the year.”

Silver also enjoys popularity in the industrial sector, investors find that the metal is always a good bet due to its many uses in the manufacturing world and also for jewellery.